Foreclosure home-hunting strategies

One of the most common questions asked of real estate professionals these days is some variation of the following: "Is now a good time to buy a foreclosure?"

I get this question routinely, too, and my short answer is simply to "check with your local real estate agent." I say that because the most accurate answer to the question is based on local market conditions and the individual financial status of the prospective buyers -- two pieces of information best determined by a good local real estate agent.

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